Tokens
MOON - FTM Pegged Token
MOON is designed to be used as a stablecoin for things such as exchange, lending, borrowing etc.
The protocol's algorithm aims to maintain MOON 's peg of 1:1 MOON:FTM in the long run.
Note that MOON actively pegs via an algorithm, it does not mean it will be valued at 1 MOON: 1 FTM at all times as it is not collateralized. MOON is not to be confused for a crypto or fiat-backed stablecoin.
MSHARES - Protocol Shares
MSHARES are one of the ways to measure the value of the MOON Protocol and shareholder trust in its ability to maintain MOON close to peg. During epoch expansions the protocol mints MOON and distributes it proportionally to all MSHARES holders who have staked their tokens in the Masonry.
MSHARES holders have dao voting rights on proposals to improve the protocol and future use cases within the MOON Finance ecosystem.
MSHARES has a maximum total supply of 72,510 tokens distributed as follows:
DAO Allocation: 5500 MSHARES vested linearly 365 days
Team Allocation: 7000 MSHARES vested linearly over 365 days
Rewards: 60000 MSHARES are allocated for incentivizing Liquidity Providers in two shares pools for the next year, Mshares rewards will continue in the Vineyard until Mar 30th 2023.
Initial mint: 10 MSHARES minted upon contract creation for initial pool
MBOND - Moon Bonds
MOON Bond's (MBOND) main job is to help incentivize changes in MOON supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of MOON falls below 1:1 FTM, MBONDs are issued and can be bought with MOON at the current price. Exchanging MOON for MBONDs burns MOON tokens, taking them out of circulation (deflation) and helping to get the price back up to peg.
These MBONDs can be redeemed for MOON when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for MOON when it is above peg, helping to push it back toward 1 MOON to 1 FTM ratio. Contrary to early algorithmic protocols, MBONDs do not have expiration dates. If your MOON is below peg exchange it for MBOND and redeem after peg is above 1.1 to receive bonus MOONs! All holders are able to redeem their MBOND for MOON tokens as long as the Treasury has a positive MOON balance, which typically happens when the protocol is in epoch expansion periods.
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